Bonus Livestream Session - DeFi (Decentralized Finance)
Decentralized Finance, or DeFi, has been a big topic in the industry for awhile now but many of you (especially people new to the space) have lots questions about it. So this week, I'll be answering your questions about DeFi.
Chapters
0:00 Introduction
3:59 Could you please explain the concept behind Defi in layman terms and how it is revolutionary in nature? What are the downsides of it?
10:18 Is collateral mandatory when borrowing with Defi? If not, how can lenders hedge counter party risks?
12:50 How can debt repayment/collateralized loans be enforced if DeFi spans multiple jurisdictions? Or will credit be reputation-based, and if so how do you prevent sybil attacks?
15:35 What are Flash Loans? How is it possible to do anything useful with the loan if it has to be paid back by the next block?
18:49 DeFi's goal has been to bank the unbanked. So far it has been mostly for geeks only. When do you think DeFi will penetrate the truly unbanked?
24:24 The amount of DeFi DApp's are booming in Ethereum due to its 'programmable' nature. Are there any Bitcoin base DeFi platform (side chain like LN) supporting Turing complete smart contracts?
27:09 Reimplementing traditional financial services in a more decentralized manner is valuable. But what are novel DeFi applications that can "only" happen in the new platforms?
34:29 Is it possible for DeFi to exist without KYC/AML?
38:03 What do you think about these complex projects that are trying to tokenize bitcoin or Ethereum. Is it a good idea?
42:38 Any thoughts about decentralized liquidity pools platforms? Do you think it will reduce the need of centralized exchanges? And do you think it will solve the liquidity issues faced by DEX'es? What are the pros for a platform like that?
45:17 Does the judicial system have a role in DeFi? What progress has been made for integrating blockchain within the judicial system?
52:07 Do you see negative interest rates being a catalyst for crypto adoption considering that many DeFi and PoS options offer higher ROI?
53:35 Could you tell us the potential risks of a DeFi savings account?
57:25 Give us an example of a couple of types of attacks and problems that can happen in DeFi or that have happened recently
1:04:14 What is this I hear about DeFi and PoS being incompatible? Something about staking rates vs collateral rates breaking incentives?
1:07:31 Conclusion and upcoming events
What is a Bonus Livestream Session?
Bonus sessions are a bit different from my regular monthly Community Builder Q&A. They are shorter, only 30-45 minutes, and each session has a focused topic; this week it’s DeFi. However, like the regular Q&A sessions, most of the questions I answer will come from Community Builders. I’ll start the broadcast with several questions that they have submitted and voted on through our voting platform. Time permitting, I'll take a couple of follow ups and new questions posted by the Livestream audience too.
Why Are You Doing This?
Right now, many of us are distanced from our typical communities: our local friends, our workplaces, and even our family members, because of COVID-19. For this reason, it feels like our digital communities are especially important right now. This will give us the opportunity to connect while many of us are social distancing or quarantined.
You may already know that my mission is to educate as many people as possible about #Bitcoin and open blockchain technologies. Participating in these Livestream sessions is one way to do that. Thank you for being part of this mission.
Learn more about becoming a Community Builder: / aantonop
Read about PoS staking vs DeFi collateral:
/ how-defi-cannibalizes-pos-security
https://arxiv.org/abs/2001.00919
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